Aduro Biotech Announces Pricing of Its Initial Public Offering

BERKELEY, Calif.--()--Aduro Biotech, Inc. (Nasdaq:ADRO) today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a price to the public of $17.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,050,000 shares of common stock at the initial public offering price, less the underwriting discount. Aduro’s common stock is expected to begin trading on The NASDAQ Global Select Market under the symbol “ADRO” on April 15, 2015. The offering is expected to close on April 20, 2015, subject to customary closing conditions. Aduro estimates net proceeds from the offering will be approximately $107.7 million (assuming no exercise of the underwriters’ option to purchase additional shares of common stock), after deducting the underwriting discount and estimated offering expenses payable by Aduro. Aduro’s net proceeds from a concurrent private placement at a price of $17.00 per share are expected to be $25.0 million.

BofA Merrill Lynch and Leerink Partners LLC are acting as joint book-running managers for the proposed offering. William Blair and Canaccord Genuity are acting as co-managers.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (SEC) on April 14, 2015.

This offering is made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering will be filed with the SEC and may be obtained at no cost, when available, by visiting EDGAR on the SEC’s website (www.sec.gov), or from: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com; or Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by email at syndicate@leerink.com, or by phone at (800) 808-7525 ext. 6142.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Aduro

Aduro Biotech, Inc. is a clinical-stage immuno-oncology company focused on the development of technology platforms to stimulate an immune response against cancer. Aduro’s lead platform is based on proprietary strains of live-attenuated, double-deleted (LADD) Listeria monocytogenes that induce a potent innate immune response and have been engineered to express tumor-associated antigens to induce tumor-specific T cell-mediated immunity. Aduro has received Breakthrough Therapy designation from the FDA for its lead LADD regimen, CRS-207 in combination with GVAX Pancreas in pancreatic cancer. The company is evaluating the proprietary immuno-oncology combination in the ongoing Phase 2b ECLIPSE clinical trial and has additional ongoing clinical trials with its LADD platform in mesothelioma and glioblastoma. The company is also developing clinical candidates using cyclic dinucleotide (CDN) synthetic small molecule immune modulators that are designed to activate the intracellular STING receptor, a central mediator of the innate immune response.

Contacts

Aduro Biotech, Inc.
Sylvia Wheeler, 510-809-9264
SVP, Corporate Affairs
or
Media Contact:
Angela Bitting, 925-202-6211
press@aduro.com

Contacts

Aduro Biotech, Inc.
Sylvia Wheeler, 510-809-9264
SVP, Corporate Affairs
or
Media Contact:
Angela Bitting, 925-202-6211
press@aduro.com